Mahindra & Mahindra Q1 results: Net profit jumps 67% to Rs 1,430 cr

Mahindra & Mahindra (M&M) on Friday posted a 67 per cent rise in standalone net profit at Rs 1,430 crore for the quarter ended 30 June, 2022. The company had posted a profit of Rs 857 crore in the year-ago period.

On sequential basis, M&M net profit rose 10.7 per cent from Rs 1,292 crore in the previous quarter (Q4FY22).

The company's revenue from operations surged 66.7 per cent to Rs 19,612.64 crore from Rs 11,764.82 crore in the same quarter last fiscal.

Its earnings before interest, taxes, depreciation, and amortization or EBITDA rose 43 per cent YoY To Rs 2,341 crore as against Rs 1,631 crore in Q1FY22.

During its quarter under review, billionaire industrialist Anand Mahindra-led company witnessed highest-ever quarterly standalone revenue for auto and farm segments at Rs 18,995 crore.  The company also added that it "continues to be No.1 in SUV revenue market share (17.1%)."

Anish Shah, Managing Director & CEO, M&M Ltd, said, “Our performance this quarter is a reflection of the focus on delivering on our commitments to our stakeholders and customers. We saw good momentum across all our group companies, led by the strong results of the Auto and Farm sector.”

Rajesh Jejurikar, Executive Director, M&M Ltd, said, “With 273k+ bookings, the demand for the automotive product portfolio remains strong. Following the blockbuster launch of Scorpio-N, we are excited about the next phase with the unveil of our Born Electric Vision later this month.”

Shares of M&M on Friday traded 1.23 per cent lower at Rs 1,246.40 apiece on BSE.